Caterpillar: Time for a Breakout?

By Ben Levisohn

Caterpillar has been a massive underperformer in 2013, essentially flat on the year. Lately, however, it has shown some improvement, rallying 8% from the November lows. The daily chart shows that might just be the beginning of the move. The stock is flirting with a breakout above a nine month resistance trend-line, which would imply upside to the $100 level.

And here’s the chart of Caterpillar Krinsky is looking at:

Other stocks that could see some upside if the global economy is improving include Cemex (CX), Terex (TEX) and Tutor Perini (TPC).

Shares of Caterpillar have gained 1.2% to $89.98 today at 2:50 p.m., while Cemex has dropped 0.1% to $11.66, Terex has jumped 3.4% to $41.06 and Tutor Perini has dipped 0.1% to $25.17.

About Stocks To Watch

Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.